Passive Solar Office
For Sale
$850,000
1570 Broadway, Bangor, ME 04401
COMMERCIAL - Bangor, ME
Property Size6,170 SF
Lot Size5.76 Acres
Price / SF$137.76
Days on Market112
Property Features for 1570 Broadway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
G&ISD
Interior features
Storage
Basement
Crawl Space
Lot features
Near Shopping
Standard status
Active
Size
6,170 SF
Lot size
5.76 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10243
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Propane (Heating), Solar (Heating), Natural Gas, Forced Air, Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Private, Well
Water front features
Stream
Amenities
conference areas
individual office suites
bathrooms on both floors
fire escapes
storage
great room
Building Details
Year built
1979
Number of units
1
Flooring type
Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Berkshire Hathaway HomeServices Northeast Real Estate · Prudential Real Estate
(207) 942-8261
Listed By:
Jan Currier · License #BR210618
(207) 944-6430
Added: Apr 23
Changed: Aug 4
Last Checked: Aug 12 at 12:06PM
MLS# 1511554
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Passive solar designed office/medical building featuring an envelope intended for clean, efficient heating year-round. The exterior north and south walls, ground floor, and roof are constructed to allow air flow between the outer and inner walls. A solar system rated at 40,000+/- Btus can be drawn off and used to heat the building through ducts running from the peak of the roof toward the rear wall. Additional backup systems include heat pumps and a propane fireplace within a Great Room.
The building offers a versatile floor plan with bathrooms on both floors, large open conference areas, many individual office suites on both levels, and two fire escapes on the second floor. There is storage throughout, with construction of wood frame and vinyl siding and a metal roof. Heating includes natural gas, heat pump (heating), propane (heating), forced air, electric (heating), and solar (heating), with cooling provided by a heat pump. Water is supplied via well and private sources, and wastewater is handled by a private sewer and septic tank. A stream is listed as a water feature.
The property is located at the edge of Bangor’s retail and shopping development with two entrances/exits and over 40 parking spaces. It is currently zoned G&ISD, with the Shopping & Personal Services District across Broadway. The lot size is about 1.83 acres, and the map/lot is R31-14; the property size is approximately 6,510 SF (about 4,578 SF on the first floor and 1,932 SF on the second floor). Two additional lots (Map/Lot R31-14C and 14D) each provide approximately 1.96 acres and are zoned RRA and may be added to a purchase of the building on Lot 14, for an approximate total of 5.75 acres owned including all three lots. The year built is 1979.
The building offers a versatile floor plan with bathrooms on both floors, large open conference areas, many individual office suites on both levels, and two fire escapes on the second floor. There is storage throughout, with construction of wood frame and vinyl siding and a metal roof. Heating includes natural gas, heat pump (heating), propane (heating), forced air, electric (heating), and solar (heating), with cooling provided by a heat pump. Water is supplied via well and private sources, and wastewater is handled by a private sewer and septic tank. A stream is listed as a water feature.
The property is located at the edge of Bangor’s retail and shopping development with two entrances/exits and over 40 parking spaces. It is currently zoned G&ISD, with the Shopping & Personal Services District across Broadway. The lot size is about 1.83 acres, and the map/lot is R31-14; the property size is approximately 6,510 SF (about 4,578 SF on the first floor and 1,932 SF on the second floor). Two additional lots (Map/Lot R31-14C and 14D) each provide approximately 1.96 acres and are zoned RRA and may be added to a purchase of the building on Lot 14, for an approximate total of 5.75 acres owned including all three lots. The year built is 1979.
Key Highlights
- Passive solar design with solar heating draw rated at 40,000+/- Btus
- Approx. 6,510 SF total: 4,578 SF first floor and 1,932 SF second floor
- G&ISD zoning with two entrances/exits and over 40 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,540
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,430,800
$1.4M
Cap Rate 7%
$1,022,000
$1.0M
Cap Rate 9%
$794,889
$794.9K
Market Conditions
NOI Build-Up for 6,170 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$135.5K $21.96/SF
− Vacancy
−$16.3K −$2.64/SF
EGI
$119.2K $19.32/SF
− OpEx
−$47.7K −$7.73/SF
NOI
$71.5K $11.59/SF
Area
Penobscot County, ME
Vacancy
12.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,430,800
Cap Rate 7%
$1,022,000
Cap Rate 9%
$794,889
Alternative Uses
Best Use
Office B
$1.25M
$1.09M – $1.45M
NOI $87,220 @ 7.0% cap · market cap 10.26%
Second Best
Healthcare Medical
$1.02M
$894.3K – $1.19M
NOI $71,540 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,491 @ 7.0% cap · market cap 16.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Passive solar office/medical building with multiple suites, conference areas, storage, and zoned G&ISD with parking and two entrances.
Where is this office building located?
The property is located at 1570 Broadway Bangor, ME.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Passive solar design with solar heating draw rated at 40,000+/- Btus; Approx. 6,510 SF total: 4,578 SF first floor and 1,932 SF second floor; G&ISD zoning with two entrances/exits and over 40 parking spaces
